Multifamily
Santiago Apartments
516 University Ave SE, Minneapolis, MN 55414
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap, as exclusive listing agent, is pleased to present Santiago Apartments, offered for sale for the first time in 47 years. Ideally located in the highly desirable Saint Anthony Main/Marcy-Holmes neighborhood, the community provides residents with unmatched access to the Minneapolis Riverfront, the University of Minnesota Twin Cities campus, and abundant retail and dining along Hennepin Avenue and SE Main Street.
Set on an oversized 0.5-acre parcel, the property features a generous surface lot with approximately 31 parking spaces and a private backyard patio for residents. Originally constructed in 1923, Santiago Apartments is a 23-unit community comprised primarily of spacious two-bedroom residences. Much care has been taken to maintain the property’s appeal and condition, including installation of a new boiler in 2015 and a brand-new roof in 2025. Recent interior updates include modernized bathrooms, refreshed kitchen cabinetry, and abundant windows that flood units with natural light. At the same time, original
architectural details—such as French doors and hardwood floors—have been carefully preserved, blending historic charm with modern convenience.
Santiago Apartments boasts a long history of strong operations, with consistently high occupancy and strong rental demand. Its prime location, pride-of-ownership condition, and enduring tenant appeal make it a rare investment opportunity in one of Minneapolis’ most vibrant and enduring neighborhoods.
Santiago Apartments
Investment Highlights
- First Time Offered in 47 Years – Rare opportunity to acquire a long-held, pride-of-ownership asset.
- Prime Location – Situated in the sought-after Saint Anthony Main/Marcy-Holmes neighborhood, minutes from the Minneapolis Riverfront, University of Minnesota Twin Cities campus, and retail/dining along
- 23 Spacious Units – Predominantly two-bedroom floorplans with desirable layouts and abundant natural light.
- Well-Maintained Asset – Significant capital improvements including a new boiler (2015) and a brand-new roof (2025).
- Historic Character + Modern Updates – Original details such as hardwood floors and French doors preserved alongside refreshed kitchens and renovated bathrooms.
- Ample Parking & Outdoor Space – Oversized 0.5-acre lot with 35 surface spaces plus a private backyard patio for residents.
- Available Free and Clear or Via Contract for Deed
Exclusively Listed By
Investment Highlights
- First Time Offered in 47 Years – Rare opportunity to acquire a long-held, pride-of-ownership asset.
- Prime Location – Situated in the sought-after Saint Anthony Main/Marcy-Holmes neighborhood, minutes from the Minneapolis Riverfront, University of Minnesota Twin Cities campus, and retail/dining along
- 23 Spacious Units – Predominantly two-bedroom floorplans with desirable layouts and abundant natural light.
- Well-Maintained Asset – Significant capital improvements including a new boiler (2015) and a brand-new roof (2025).
- Historic Character + Modern Updates – Original details such as hardwood floors and French doors preserved alongside refreshed kitchens and renovated bathrooms.
- Ample Parking & Outdoor Space – Oversized 0.5-acre lot with 35 surface spaces plus a private backyard patio for residents.
- Available Free and Clear or Via Contract for Deed
Investment Overview
Marcus & Millichap, as exclusive listing agent, is pleased to present Santiago Apartments, offered for sale for the first time in 47 years. Ideally located in the highly desirable Saint Anthony Main/Marcy-Holmes neighborhood, the community provides residents with unmatched access to the Minneapolis Riverfront, the University of Minnesota Twin Cities campus, and abundant retail and dining along Hennepin Avenue and SE Main Street. Set on an oversized 0.5-acre parcel, the property features a generous surface lot with approximately 31 parking spaces and a private backyard patio for residents. Originally constructed in 1923, Santiago Apartments is a 23-unit community comprised primarily of spacious two-bedroom residences. Much care has been taken to maintain the property’s appeal and condition, including installation of a new boiler in 2015 and a brand-new roof in 2025. Recent interior updates include modernized bathrooms, refreshed kitchen cabinetry, and abundant windows that flood units with natural light. At the same time, original architectural details—such as French doors and hardwood floors—have been carefully preserved, blending historic charm with modern convenience. Santiago Apartments boasts a long history of strong operations, with consistently high occupancy and strong rental demand. Its prime location, pride-of-ownership condition, and enduring tenant appeal make it a rare investment opportunity in one of Minneapolis’ most vibrant and enduring neighborhoods.
Exclusively Listed By
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